What age would be your ideal time to retire?

[LoveToGiveAdvice]

Just daydreaming here - what would be your ideal age to retire ?

I am thinking soon - 40, but this because I have small children and it would be lovely not having to stress about work (on top of all the other life stress)

I am 58 and enjoy my job but would ideally like to retire at 60. A couple of health issues recently have made me realise I may not have the physical ability to do all the things I had planned in retirement if I leave it too long.

In reality however, in order to have 'enough' financially to do the things I want I really need to work full time to around 64 or 65. So it is a balance between health and finances. I think I may look to do a phased retirement and drop days from 60 onwards although my current job wouldn't facilitate that so it will mean a change of career at 60 (or sooner) and I'm not sure I have the stomach for that.

Also, elderly parents needing more support now mean it would be good to have more time now. It's a really difficult decision isn't it!

My ideal was 50 but I was a year late.

When I'm too old to work if that ever happens. I could retire at 67 but that seems young.

Today! I'm late 50s and I'm sick of working. Sadly I need a few more years pension contribution before I can throw in the towel. Lovely to hear how much others are enjoying retirement though - gives me something to look forward to.

Well I am 31 currently so probably 31.

All jokes aside, maybe 55.

46 sounds good to me, getting a bit fed up of working now after 30 years of it 😆.

In reality though, I'm hoping to go at 58.

65 maybe but probably 67.

If money were no object, I would go pt now (52). A ft job is now paid 35 hours but actually more like 50-60 in practice. I want a life before it's over!

Yesterday

I used to joke I wanted to be a lady of leisure by 30……. I’m now 40, got a 4yr old child and thinking I need to increase my hours back up to full time now she’s at school 🤣

I think 60 is a good age if you are ready but I’m 63 and still working full time but I enjoy it, am well paid and work remotely and am still very much needed so not sure what age I will go.

Right bloody now. I have five years still and though I love my job, I am tired. I'll be late sixties by then.

50

I’m 55 and have a cushy number working for DH’s business - he’s a bit older and desperate to retire - my health is crap so I’m not sure I want to ‘go out’ to work and deal w all the stress again.

I’d def volunteer though and get out and about rather than vegetate at home which is no good for MH. Our dream is to travel more but due to my health issues it may be difficult to achieve. unf health issues are just ‘bad luck’ on my part 😔 and have all reared their head since I turned 40! Bugger!!

At the moment, I plan to retire at 67. 14 years, but my job is a doddle so I don’t feel I’ll be knackered by then. My pension forecast is so much better at 67 than 60. Those extra few years will make a massive difference.

I would like to retire in my early sixties. That’s not realistic for me sadly. However I am self employed so I will just be using that flexibility as best I can (if I’m still self employed then - it’s almost 20 years away 😫)

What issues do you have and what would you have done differently if you knew earlier? I’m 44 and no major issues but my general health feels much less strong now despite working out, being a regular BMI and doing my best to eat well

I’m 58 and am nowhere close to retiring, not because of the money but because I don’t feel like I’ve ‘finished’ yet. I still have the energy, enthusiasm, and ideas to make a worthy contribution. It’s a very individual thing. I was away with school friends this weekend. Two have retired, one is on the cusp, one has gone part time through ill health, one would love to but can’t afford it, and then there’s me, whipping around like a Duracell bunny (and probably really annoying for it 😁).

I know so many people who have retired young and they’ve ended up going back to work years later, same field or different because they got bored and nothing to do!

I had always planned to retire at 55 (I’m in education) but decided to keep going and was going to take full retirement this year at 62 - but I’ve gone part time instead doing an advisory role to a academy trust that I was part of before. More flexibility and I’m enjoying it so far.

Honestly, you don’t. You need a sensible pot, no mortgage, & sensible outgoings.

I retired at 54 which was close to 6 years ago. DH joined me last year. I had a few years of voluntary work, classes and U3A. Now we travel about in our motorhome not as much as we would have liked as MIL needed care for 2 months last year but we have managed 3 months out of the last year. Next year will hopefully be at least 6 months in 3 chunks. I still volunteer as was settled and both places are fine with total flexibility.

To have all this nowadays does involve wealth. Housing costs are crazy vs salaries & mortgages for many are 30 years plus. Pension schemes are far less generous.

60

Oh to have the choice.

Nonsense. If you retire and have a very low pension, what do you live on??

Not everyone here has a pension from years back. Some of us had no choice but to work low paid menial jobs around our kids while they were small. And we couldn't pay much into a pension, so working till we're 67 is what it is.

Mn annoys me sometimes with the assumption we are all comfortably off.